Mid-cap Picks with Anil Singhvi: Sacchitanand Uttekar picks Sree Rayalseema Hypo, BASF, Sharda Corpchem as top buys for bumper returns

In yet another episode of #Spl Midcap Stocks, market expert Sacchitanand Uttekar today recommended three stocks with long-term, positional medium-term, and short-term views. These stocks have the potential to generate big gains for the investors, he told Zee Business Managing Editor Anil Singhvi. Know what is working for these stocks here!     

Long Term Pick – Sree Rayalseema Hypo 

Being bullish on the commodity chemical space, the market expert Sacchitanand Uttekar believes there is going to be a good upward move in Sree Rayalseema Hypo. On monthly charts, Rs 265-270 per share levels acted as a supply zone, which has confidently surpassed. The stock has established a Cup and Handle formation and believe it would touch a target of Rs 400 per share on long-term basis. 

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SRH has shown a confident breakout. On weekly charts, this stock has held a strong support zone of Rs 245-250 per share levels, until this support zone is valid, a big upside is visible in SRH, says Uttekar. He sets a stop-loss Rs 245 per share on a weekly closing basis. 

Positional Mid-Term Pick - BASF 

Recommending it for the third time, Uttekar has identified a reversal in the stock around Rs 1100 per share level and has observed a follow-through or continuation pattern at around Rs 1600 per share level. He points out that the stock confidently broke its 2018 highs.  

The analyst, on weekly charts, says there’s a classic rounding bottom formation established and has been a good pullback in stock from Rs 2040 per share level. He suggests, an elevated base has formed and the momentum is visible in the stock. 

In the earlier recommendations, we have capitalised 30 per cent on the healthy structure and strong momentum, says Uttekar. He sets a target of Rs 2960 per share and stop-loss Rs 2120 per share on weekly basis with an upside of 30 per cent. 

Short Term Pick – Sharda Cropchem 

Uttekar says the stock seems bullish on short-term cycles, it has breached a bearish sequence, which was hovering for the last 13 weeks, on weekly basis charts. He adds, Sharda Cropchem has taken support of 200-weekly exponential moving average, and is showing a reversal pattern.  

There is a falling wedge formation breakout established already, believes the analyst, adding further that there could be a good up move in this stock. He sets a target of Rs 390 per share and Rs 290 per share stop-loss.